Ardelyx Moving on FDA Appeal News

December 29, 2022

(24/7 MARKET NEWS) – Ardelyx, Inc. (Nasdaq:ARDX) stated, this morning, that the FDA’s Office of New Drugs (OND) granted the appeal to the Complete Response Letter (CRL) for the New Drug Application (NDA) for XPHOZAH.

Ardelyx traded as high as $3.07 in this morning’s premarket, but has pulled back to $2.48, down $0.03 (-1.20%), on 3.4 million shares traded.

Its 52-week range is $0.4902 to $2.565, so it could trade at new 52-week highs and may try to fill in the gap, formed in 2021, to $6. Another pullback before the regular session open would not be surprising.

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